Russian Armenian entrepreneur with investments in metals & mining.
The main shareholder of Vallex Group (has broad interests in Armenia) and Base Metals (biggest taxpayer in occupied Nagorno Karabakh).
In 2014 Mezhlumyan was awarded the first class Medal of Services to the Motherland for “outstanding services and weighty personal contribution to the development of economy” (details and images available here).
According to officially disclosed information in [the best year] 2010, Base Metals earned $25 million, of which $8 million were reported as profit.
Since then, according to Armenian media, revenues have fallen. “Therefore, all hopes are at the new Kashensky Combine, which will produce 8,000-10,000 tons of copper per year” (source: HERE).
According to some sources he is very close to former Armenian president Serj Sargsyan who sometimes is named as his partner.
According to other sources Mezhlumyan has partnership relations with R.Kocharyan.
Currently Vallex Group have lost its biggest asset in Armenia.
As it’s said in the article “Teghout’s Offshore Labyrinth and Valeri Mejlumyan’s Business Empire”, it appears that Mejlumyan has devised such a financial labyrinth regarding the operation that nobody knew for certain who he was sharing the profits with.
Teghut project (which was supported and supervised by Sargsyan (see here) – was taken from him soon after revolution (for debts) by creditors (Russian bank VTB). Now it is controlled by VTB.